Indiana has given men's basketball coach Mike Woodson a $1 million annual raise after he led the Hoosiers to back-to-back NCAA tournament appearances in his first two years on the job.
The university announced Woodson's new average salary of $4.2 million on Friday, noting it makes him one of the top three highest-paid men's basketball coaches in the Big Ten. Michigan State's Tom Izzo leads the conference at an average of $6.2 million per season on a five-year contract he reached in August 2022.
"Upon his arrival, Coach Woodson immediately re-inserted our program into the national conversation both in terms of an elevated level of success on the court and in recruiting," Indiana athletic director Scott Dolson said in a statement. "I knew that returning our program to the level that Hoosier fans rightfully expect would be a process that wouldn't happen overnight. I have been extremely pleased with the steps we have taken during the last two years. I believe under Coach Woodson's leadership, we have positioned the program to compete at the highest levels in recruiting, which in turn will enable us to compete at the highest levels within the Big Ten and in the NCAA Tournament."
Woodson remains under contract through 2026-27.
Indiana is 44-26 under Woodson the past two seasons, reaching the second round of the NCAA tournament last season before losing to Miami.